On Tuesday, U.S. stock futures pointed to a higher opening for Wall Street for the first trading day of the new year, following last year’s rally. The major stock indexes closed out the year, with their level in four years. Driven by strengthen economic growth, solid corporate earnings, low interest rates and the optimism of corporate tax cuts all in all it was a great year for Wall Street.
At 6:57 a.m. ET: Dow e-minis were up 33 points, or 0.13 percent, with 14,970 contracts traded. S&P 500 e-minis were up 6 points, or 0.22 percent, with 104,584 contracts traded. Nasdaq 100 e-minis were up 7.5 points, or 0.12 percent, with 21,804 contracts traded.
Expected this week is the December payrolls report as well as data on manufacturing and service sectors which are the primary statistics which will analyzed for indications the health of the economy and number of interest rate increases this year. The minutes from the U.S. Federal Reserve’s December meeting will be published on Wednesday. Since the 2008 financial crisis, the central bank has now raised rates for the fourth time.
Oil prices remained close to their mid-2015 highs mainly driven by large anti-government rallies in Iran and the ongoing supply cuts controlled by OPEC and Russia.
Gold and copper prices both gained, but the greenback wasn’t as lucky as the dollar index dropped to its lowest level since September.
Wynn Resorts dropped about 5 percent during premarket trading, following the report that indicated a lower increase in gambling revenue in December than what was previously expected. Shares of other U.S. casino operators such as Las Vegas Sands and Melco Resorts & Entertainment were also down roughly 2 percent.
Netflix increased 1.6 percent after brokerage Macquire upgraded the company’s stock to “outperform” from “neutral”. U.S.-listed shares of Embraer gained 6.2 percent following a report that partnership discussions between the Brazilian planemaker and Boeing did not involve changes in control.
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